🠈  LimeBike  🠊

LimeBike

LimeBike is a company that rents electronic bikes and scooters. The business model is to leave bikes and at select locations around target cities. Users can find and unlock local bikes with an app.

At the end of the ride, users are instructed to take a picture of the bike with the app to assure that they parked the bike correctly.

NOTE: I have not used the service, nor have I downloaded the app.

The Lime web site says that rental prices vary by city. This is due to fees charged by the city. The site Ridester said that it cost a dollar to unlock the bike and $0.15 a minute ($9 per hour) to ride.

Ridester mentions a gig called a Lime Juicer . Juicers gather up recharge and then reposition the bikes.

Apparently bike sharing companies have had disputes with different cities. In response, Lime created a geofencing technology which limits where one can park a Lime Bike.

The video shows a person renting a Lime Bike

Corporate History

• 2017: by Brad Bao and Toby Sun, who had worked for China based Fosun International, founded the firm.
• 2017: Limed received $12 million in venture funding in effort led by Andreessen Horowitz.

March 2017: Company opened first location at the University of North Carolina in Greensboro with 125 bicycles.

• October 2017: Lime had recorded 150,000 users.
• 2018: Lime received criticism for leaving bikes in cities without permission of local authorities.
• 2018: Lime entered deal with Uber to expand the Uber Bikes service.
• 2019: Lime raised $310 billion in funding in finance round led by Bain Capital.³ Bain valued Lime at $2.4 billion.
• 2020: Lime reduced service and closed markets due to the pandemic.
• 2020: Lime acquired assets of Boosted which provided electic skateboards.
• 2020: Lime acquired the Jump e-bike and scooter business from Uber with $170 million funding by Uber, Bain and GV.
• 2021: A report by Smart Cities Dive said that Lime had a 95% drop in ridership during the pandemic.
• 2022: Lime presented plans for an IPO.

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References:

1. Wikipedia - Lime (Drawn 10/6/2022)
2. Smart Cities Dive (Drawn 10/6/2022) https://www.smartcitiesdive.com/news/lime-reports-first-profitable-quarter/589423/
3. Tech Crunch - Lime Raised $310 M (Drawn 10/6/2022)

Directory Listings:

• Boulder Color - Bike Shops: LimeBike
• Colorado Springs Color - Bike Shops: LimeBike
• Denver Color - Bicycle Shops: LimeBike
• Ogden, Utah - Bike Shops: LimeBike
• Provo Utah - Bike Shops: LimeBike
• Salt Lake Sites - Bikes: LimeBike

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